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Social Responsibility—Giving Something Back

In: Global Competitiveness

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  • William Philip Wall

    (Stamford International University)

Abstract

The final chapter dwells on social responsibility and how firms should always have a program dedicated to social responsibility functions. The sole focus of business entities should not only be profit, but also societal good and how to help individuals and organizations whose goals align with that of the firm and contribute to a better society. These could be community groups, rights groups, student groups, or some other social justice non-governmental organization. The chapter details ways of giving back and how to get employees involved, and recommends what part of the profit to invest in social responsibility. Benefits of social responsibility are outlined and strategies to be deployed. The firm should consider itself as part of the community by contributing to causes and developments that benefit the society.

Suggested Citation

  • William Philip Wall, 2022. "Social Responsibility—Giving Something Back," Springer Books, in: Global Competitiveness, chapter 0, pages 81-89, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-7755-7_10
    DOI: 10.1007/978-981-16-7755-7_10
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